This $2,145 bag looks like IKEA's 99-cent tote

Updated 6:02 pm, Friday, April 21, 2017

Balenciaga has released their new Arena bag that looks very similar to Ikea's classic Frakta bag. Keri Lumm (@thekerilumm) reports.

Media: Buzz60

Anyone who has ever been to IKEA, can spot one of the company's signature blue shopping totes from a mile a way. The Swedish mega-home furnishings and decor chain with stores throughout the U.S. sells the roomy tote, which is made of recycled materials, for 99 cents.

Leave it to someone in the social-media world to point out that couture fashion house Balenciaga has a similar bag, which is made of glazed leather, for $2,145.

Copying in the fashion industry isn't new. But IKEA isn't bothered.

According to an IKEA spokesperson, who spoke with NBC's Today Show said this: "We are deeply flattered that the Balenciaga tote bag resembles the Ikea iconic sustainable blue bag for 99 cents. Nothing beats the versatility of a great big blue bag!"